Facebook is joining the Nasdaq-100 Index on Dec. 12 and will
then be eligible to become part of
such as the $30 billion PowerShares QQQ Trust (NasdaqGM:QQQ),
replacing Infosys, as the India-based consulting and technology
firm transfers its listing to the New York Stock Exchange.
Infosys' departure has opened the way for Facebook, the $30
billion social media giant that first went public in May. Facebook
will join not only join the Nasdaq-100 Index, but also the
Nasdaq-100 Equal Weighted Index and the Nasdaq-100 Technology
Sector Index, Nasdaq said today in a press release. It wasn't
immediately clear what Facebook's respective weightings would be in
the each of the indexes.
Apart from QQQ, Facebook will become part of other ETFs,
including the $2 million Direxion Nasdaq-100 Equal Weighted Index
Shares (NYSEArca:QQQE) and the $79 million First Trust Nasdaq-100
Equal Weighted ETF (NYSEArca:QQEW).
Many had hoped that after the Nasdaq OMX Group changed its
"seasoning rules" in April for three of its most popular
indexes-including the Nasdaq-100 Index-Facebook would be entering
Nasdaq's flagship index by September.
Instead, after bleeding more than half of its value in its first
four months as a public company, Facebook was added to the Nasdaq
Q-50 Index-the feeder index for the Nasdaq 100-and only now it has
found a door to the broader index.
"Our decision to transfer our American Depositary Shares listing
to NYSE is motivated by a desire to leverage the NYSE Euronext
partnership to empower our investor base, increase access to our
stock for European investors and broaden the trading window
available for our global investors," Infosys CEO S.D. Shibulal said
in a press release issued by the company.
Infosys ADS will begin trading on the NYSE under the ticker
"INFY" on Dec. 12. The firm is also looking to list its shares in
Paris and London.
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